Are you thinking of selling final expense insurance? If so, we have good news.
Final expense insurance is a lucrative insurance type, paying some of the highest commissions in the industry.
What’s more, many people need final expense life insurance. According to reports, 56% of Americans can’t cover a $1,000 emergency expense with savings. Given that the average funeral costs far more than this, educating people on why they need final expense insurance and helping them pick the right product is a worthy undertaking.
However, final expense insurance is a notoriously hard sell.
One of the secrets to breaking into the final expense insurance game is buying leads. If you’re new to selling insurance, buying leads can be the ingredient you need to succeed.
Continue reading to find out why buying final expense leads can be so invaluable when selling insurance.
Buying Final Expense Leads Is One of the Secrets to Getting Started Selling Insurance
Are you just getting started selling insurance?
If so, then you definitely should consider investing in paid final expense insurance leads.
Selling insurance can become a rewarding career, both financially and personally. However, getting started can be tough.
Becoming a top-performing insurance sales agent can take years of practice and fine-tuning. That’s not to say that you can’t level up your sales numbers relatively quickly. But, you need leads to work so you can do this.
Generating leads can be challenging as a new insurance agent. Not only do you need to learn how to sell and close, but you also need to figure out how to generate leads to sell to.
Lead generation is a whole animal on its own, and building lead-generating strategies that work can take time, resources, and a fair amount of tweaking.
While this is going on, you might be barely scraping by. Without leads to work, how are you going to make sales?
Until your organic lead generation efforts kick in and bear fruit, paid leads can be a lifeline. Instead of having to rely solely on your experimental lead generation strategies, you can rest easy knowing that you have a guaranteed number of leads coming in that you can work with.
According to estimates, in the first 12 months, new producer failures rates at insurance agencies can be as high as 70% to 80%.
Leveraging leads can save you from becoming part of this percentage of new agents that quit before seeing the rewards of their initial hard work.
Final Expense Insurance Leads Can Tide You Over Slow Times
Once you have established yourself selling insurance, leads can still be valuable. No matter how well finessed your lead generation strategies are, there will always be ups and downs in the numbers of leads coming in.
Should you hit a slump, you can always rely on leads to stop the gaps. Instead of waiting anxiously each month to see how many leads filter in organically, you can relax in the knowledge that should you need more leads, they’re no more than an order away.
Being able to supplement organic leads with bought leads can be invaluable when lead flow runs low. This can happen for a number of reasons. For instance, if you’ve been relying on Facebook ads for leads, you might find that they’re not converting as well as they used to.
Due to higher amounts of competition for Facebook ads for final expense insurance, you might also find that you’re paying more than you used to to get the same amount of ad conversions.
While you pivot and adjust your lead generation methods, you can turn to bought leads to tide you through.
Buying Final Expense Insurance Lead Gives You Security
As we said above, final expense insurance sales can be lucrative, but they are also unpredictable. If you’re not landing leads, you’re not generating new commissions.
Most insurance agents don’t earn salaries. Some captive agents might earn a small retainer, but it typically isn’t enough to give them any kind of income security.
Independent agents have even less security, but they have a lot more freedom.
If you’re an independent agent, you can get the best of both worlds by leveraging paid leads to give you some security. As long as you buy good-quality leads that have a decent chance of converting, you can enjoy some peace of mind knowing that you can always order a batch of leads to fall back on when the pickings get scarce.
Final Expense Leads Can Produce a Good ROI
Another reason to start tapping into paid final expense leads is they can have a good ROI. Final expense insurance pays very decent commission levels. If you have a strong sales pitch and closing techniques up your sleeve, you can see decent conversion rates, and with that, an attractive ROI.
What’s more, don’t forget that when you buy insurance leads you will also be saving yourself lead generation-related expenses.
You might think “why would I want to pay for a lead when I can generate it myself?”
If you can generate the same quality of leads for less, that’s great. But often, this is not the case.
Lead providers such as ourselves have streamlined our lead generation methods so that we can provide you with the lowest cost per lead possible, while still supplying quality leads. Because we have been doing this for years, and at scale, we know all the ins and outs of maximizing our ad budgets and lead quality.
Final Expense Leads Can Be Harder to Reach With Digital Marketing
Are you having trouble generating the lead numbers you need online? One of the reasons for this might be your target market.
Nowadays digital marketing is the go-to method for generating insurance leads. However, when it comes to final expense insurance leads, things aren’t quite as straightforward.
The target market for final expense is predominately older demographics. Although this is changing, older demographics are still less likely to be heavy internet users.
While younger target markets might find you through blog posts or social media posts, older generations are a little more hit and miss.
You can generate final expense leads off of platforms like Facebook. But successfully targeting them is often harder than younger audiences who are better suited to digital sales funnels.
You Can Test Out Different Lead Types With Minumum Upfront Investment
One of the pitfalls new agents encounter when getting started with selling insurance is the trial and error around lead types.
Different types of leads convert better for different agents. If you asked a room of top-performing insurance agents what the best type of lead is, they’d probably all have a different opinion.
As a new agent, you will need to dedicate some time to testing out different types of final expense leads and seeing which ones perform the best for you. Paid leads give you the opportunity to do this before building out your sales funnel.
Buying Final Expense Leads Helps You Concentrate on Core Operations
Another advantage of buying final expense leads is it helps you free up time to concentrate on core operations. If you’re selling insurance, your core, revenue-generating operations are working leads and closing sales.
If marketing is not your strong point, you might be sinking a lot of time into trying to generate leads when your gift is making sales. This is a waste of your talents.
If you’re a natural salesperson, you should be capitalizing on this strength, not wasting time scratching your head over marketing tactics. In this case, investing in paid leads is a great way to capitalize on your ability for selling and minimize your time spent on marketing.
Buying Final Expense Leads Can Fastrack Referrals
Besides helping you focus on sales, paid final expense leads can also help you fast-track referrals.
Referral leads are one of the very best (if not the best) types of insurance leads. Referral leads come with pre-established levels of trust, and they are generally well qualified.
One of the reasons why established agents become so successful is because they have a steady stream of referral leads flowing in.
However, to generate referral leads you need to need to have current leads to work so you can close sales. Once you have successfully closed a sale, there’s a chance that the client might refer one of their friends or family.
If you don’t have enough leads on your desk to close a good amount of sales, you’ll have a poor chance of generating referral leads.
If you can kickstart things with a regular influx of paid final expense leads, this will bring lifeblood into your business. Not only will you be earning more commissions, but you’ll also be racking up a book of customers who might refer their friends and family to you.
Tips for Maximizing Your Final Expense Leads
Now that you know how valuable paid leads can be, here are a few tips for maximizing the leads you purchase.
The first and most important tip is to always buy quality leads. Unqualified, stale leads will be a waste of money and time because they won’t convert.
If you are a new agent and you haven’t yet invested in insurance sales training, now is the time to do so. The better your sales skills, the better results you’ll get from your leads.
Selling final expense insurance requires you to bring up the subject of death with your leads. According to research, the human brain is literally wired to avoid the subject, so sales training is especially important for final expense products.
Choose a Lead Provider You Can Trust
Whether you’ve been selling insurance for some time or just getting started, paid leads can give you the advantage you need.
However, it’s critical that you choose the right lead provider. If you don’t, you’ll be wasting money buying poor-quality leads and wasting time when you try to work them.
Here at Final Expense Sales Leads we understand that your success is our success. If our agents thrive, so do we. All of our leads come with proof of quality and are highly qualified.
Check out our range of lead types today.